Snowflake Hack

Snowflake finance was rug pulled. An EOA address was able to remove liquidity from the Snowflake pools for a total of 468,000 $USD due to the backdoor functionality in the protocol.

The Snowflake Exchange protocol is a single-side AMM (decentralized exchange) designed for

exchanging stable cryptocurrencies (USDT, USDC, DAI).

All protocols contracts are built using a Proxy upgradability pattern. In that case, the project admin has the ability to change implementation anytime. All project liquidity pools have a privileged caller with the role of "pool". Currently, the pool has unverified implementation and exactly this contract was used for the rug pull.

Scammer addresess:

https://bscscan.com/address/0x198C258B…481Db6

https://polygonscan.com/address/0x37fb3B6F…781A28

https://bscscan.com/address/0x74016af2…125b18#tokentxns

https://bscscan.com/address/0x37fb3b6f…781a28#tokentxns

Liquidity drain transactions:

https://bscscan.com/tx/0x3f451086…4615a9

https://bscscan.com/tx/0x538498d6…7c0b95

https://bscscan.com/tx/0xd8efdc86…bed511

https://bscscan.com/tx/0xab6bad65…4bb0c8